I'm Embarrassed To Ask This Question

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 24 October 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today's episode features Dave Ramsey & George Kamel. The Ramsey Show Highlights is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. Budget for free with EveryDollar: Click Here The Ramsey Show Listener Survey: Click here to be Entered to Win a $500 Gift Card!!! Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	brought to you by the every dollar app start budgeting for free today jody is with us in
0:07.6	springfield illinois hi jody welcome to the ramsay show hi there hey what's up i well i'm kind of embarrassed
0:16.4	to ask this question but i am a 50-year-old widow who has been widowed for 15 years. I have helped put my
0:28.5	children through college, and I have no retirement. So I am ready to start retirement, and I don't even know where to begin and how much to put in
0:40.2	There's nothing embarrassing about any of that. It sounds like you make me feel good
0:45.2	Sounds like you're a wonderful person. We just need to get on the ball, right? Yes
0:49.3	Yeah, so what do you make? I make about, I was just sitting here figuring this out, I bring home about
0:59.5	36,000 take home a year.
1:03.7	Okay, so your income's somewhere around in the low 40s, maybe 45, yeah.
1:09.3	All right.
1:10.0	What do you do?
1:17.4	I am a social worker. Okay. All right. And do you have any debt? I do not. Your house is paid for? Yes. Well, that's great news.
1:25.6	That means most of your income can go toward investing.
1:29.1	So you have zero saved right now, right?
1:31.8	What do you have in the bank?
1:34.0	Well, here's what I have.
1:35.4	I have my emergency fund of $1,000.
1:38.7	I have my three months, I have three months of my,, or for my, you know, in case something
1:44.7	happened.
1:46.8	But that's about all I have at this point.
1:49.8	So I'm, I'm on the Dave Ramsey vote.
1:53.7	I just, I'm scared.
	...

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